Why bitcoin is not supported in some countries? - page 48.

dyablo

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Quote from: bajing on December 20, 2016, 09:29:37 AM

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

Actually each country have their own policy maybe the government are concerned will many wiping the money or commonly known as money laundering. fair or not that's what we have to face because until now the existence of bitcoin is still not recognized.

Another thing why other country do not support bitcoin because their government can't impose taxes from any transaction happens using bitcoin. And also they are afraid that bitcoin can be used to buy illegal products in the blackmarket.

AltheaHeart14

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One of the reason why some countries do not supported bitcoin is taxation, the its government has lots of issues regarding hiw to put tax on bitcoin, and it is a bit risky on part the government, because of the bitcoin can be use on dark or illegal transaction, but in the part of butcoin user is a great opportunity and gives income that hopely considered by the government.

Cryptron

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It is the fact that Bitcoin cant be control or manipulate that why the government cant give a tax to it. Also their are countries that not yet develop in terms of technology like free wifi in public places or stuffs.

trickee

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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

maybe it is risky or maybe they thought this is a scam or they thinking that when people know about bitcoin people will going to be lazy because when they joined bitcoin all they have to do is to wait their income so they would be lazy to find a job.Or they do not their neighbors to be rich because they want only be the rich it is unfair.here in my country several times the bitcoin is in News and they are explaining what bitcoin is and bitcoin is not a scam so i think bitcoin is welcome in my country.

Djbeats

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Why bitcoin is not supported in some countries? But why? In some countries their have a policy because bitcoin is illegal in some countries and many countries banned the bitcoin

dyewic

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Quote from: Vaskiy on December 20, 2016, 09:52:00 AM

Those countries fear that Bitcoin will make their economy to go down. Also several taxation problems have been their, as people prefer Bitcoin to escape taxes. Possibly when things go digitalized countries will use Bitcoin's technology to make their own digital currency.

On my opinion I think that, there are actualy just a few countries where Bitcoin is actualy supported in legal way. And all others are just tolerating or ignoring it or it's banned. In addition, each country has rules and laws, respectively. There is a consideration that is certainly very important. But I also agree on your opinion that, those countries fear that Bitcoin will make their economy to go down. And also several taxation problems have been their, as people prefer Bitcoin to escape taxes.

xxlouisxx

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Many countries do not support bitcoin. My country is an example. They do not consider bitcoin a commodity. bitcoin is not valid and will be caught if bitcoin transactions. understandable, if a country can not manage bitcoin. They will ban the law

Hobo66

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Because most government see bitcoin has an
ponzi scheme for stealing users money, so
they ban the use of bitcoin in various country
to prevent their country man from getting involve with bitcoin.

RVA

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These countries are afraid that their banking system will begin to fall apart, they can not control bitcoins and this frightens them, for this they need to create their own digital currencies.

HalfDeck

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Quote from: hastag_80 on January 17, 2018, 05:35:26 AM

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

Definetly some other countries not supported bitcoin because for them its not profitable to there country,and cryptocurrency is not taxable so they should not benefited all the profits coming from the crypto,and mostly bitcoin is decentralized and volatile thats why they cannot control the pump and dump of value of cryptocoins,that mostly the reason why they should not supported digital currency into there country.

Support cryptocurrency or Bitcoin is very difficult. First of all, if you want to manage the cryptocurrency and tax the crypto user, you need to know the information of all user and the profit of them to calculate the tax. It needs the exchange can provide all information to government and the user also used these exchange + verified KYC.

xiguadady

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its a threat to them on their governance.but someday bitcoin will change the world like internet do.what we need to do is waiting...

hastag_80

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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

Definetly some other countries not supported bitcoin because for them its not profitable to there country,and cryptocurrency is not taxable so they should not benefited all the profits coming from the crypto,and mostly bitcoin is decentralized and volatile thats why they cannot control the pump and dump of value of cryptocoins,that mostly the reason why they should not supported digital currency into there country.

ronremsey25

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AI SOLUTION TO VOLATILITY IN YOUR CRYPTO SAVINGS

It is because they can't control the price of Bitcoin. They can't control the up and downs of the Bitcoin. Also Bitcoin have doesn't have tax on it so the government will not have a benefit on it.

crocozino

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I think because they can't control and regulate its emission that's why they are wants to ban on the use of bitcoin, or maybe because bitcoin transactions are difficult to trace, so the government is very scary when bitcoin is used as a crime-agent tool.
Overall if governments do not contral they tend to ban so they will not spend resources for regulation.
But there some countries who sees BTC as assets and they can allow as investment tool, which is good imo

Futureblnr

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Because bitcoin could break their laws. Because bitcoin can cause a lot of trouble if they allow bitcoin to use. Bitcoin can use for crimes like money laundering, scamming or even use for ransom. Have you heard about ransom ware? As technology is evolving. Crime is also evolving. And its bad if terrorist use bitcoin for buying equipments to make terror to people

genset88

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Quote from: nara1892 on December 20, 2016, 10:46:39 AM

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

probabaly because bitcoin cannot be controlled by the government. sometimes we find government take profit too. so it is possible if they think they cannot control bitcoin in order to get profit, so they banned it. IMO

besides, bitcoin can be used by criminals and delete their tracks. so they cannot be arrested.

I think that many countries banning Bitcoin for saying that Bitcoin is a kind of gambling, and that the country does not want a bad rumor that their place of gambling may also be due to their fear that the Bitcoin process makes The economy of the country is declining

engrdaver

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Some countries accept Bitcoin as digital currency while others do not. In my opinion, some people see Bitcoin as a risky form of investment because it has no physical value or rather it has no backing. We just know the BTC current price it holds right now because of high demand but unlike real money it has gold equivalent making it volatile and risky for that matter. So basically, the government of the countries that does not accept BTC is just concerned for the welfare of its citizens.

cryptojoe

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People don't like bitcoin they want the traditional currency.

Danglen1010

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It is supported in some countries, because bitcoin is one of the best solution in the financial problem in the country and it is the answer to break poverty in such place and be rich by taking a risk in it.

vincentong17

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Because The community will embrace bitcoin and they will hate banks in the first place. so in their country they prohibited to their citizen to use bitcoin as a transaction. but ofcourse in the long run government will issue their own currency.

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