Topic: Why bitcoin is not supported in some countries? - page 50. (Read 98470 times)
The reason is that the government in my country has its own rules about the legal currency for transactions, whereas if they want to accept bitcoin then they have to change or add points to the rule and the process takes quite a long time. I really hope the government in my country can accept the bitcoin and impose a tax on the transaction so that I as a bitcoin user can contribute to the state income.
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 is not supported in some other country is because, Even terrorists can use it for their illegal transactions and the governments are fear of problems dealing with this untraceable transactions. Since it was a digital currency, It was really hard to trace where it is coming from and governments are just avoiding this kind of problems.
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 not convenient for the country to enter large amounts of money from anonymity, but they will not have to adapt, because this phenomenon is here to stay and is sweeping a country or not.
It is not supported in other country because it does not pay any taxes in the government that's why many country is againts to bitcoin.
i think they not support bitcoin on their country because some country think that it is bad to their to economy thats why they not support bitcoin or ban 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 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
perhaps the country is afraid of inflation in local currency circulating in the country and may be afraid to raise funds in criminal activity, but for the moment my country has not been inaugurated because it has not so developed the world of crypto in my country
because it can be used to circumvent govt control and regulations...pretty simple man they want control
because the use of bitcoin currency is not controlled by government or authorized financial institution. As a result, such conditions provide great opportunities for criminal activities such as money laundering and tax evasion. Lack of government control also makes bitcoin seem worthless. In addition, some financial observers consider bitcoin as illegal currency because it is not encouraged legislation lawful in the eyes of the law.
For me, I think it is because bitcoin users are unknown, unless they tell themselves. And because of that, government will find it hard to let bitcoin users pay for their taxes, unless they are honest enough. Aside from honesty, I could not find ways on how to determine how much a person own crypto currencies.
Well, yes. Bitcoin users are unknown, unless they tell themselves. Bitcoins are unknown because Bitcoin is anonymous. It is anonymous because a bitcoin user can tranfer and transport a lot of money in just some clicks. It also cause Money Laundering. Bitcoin is not controlled by the government, so that, bitcoin don't pay taxes in every transactions and it is running in the world with anonymity. That's why bitcoin is not supported in some countries.
Governments can still impose taxes on crypto by their gateways. But what really bothers them are possible money laundering. Bitcoin is already popular in deep web which is of course not cool on governments. Terrorism and countries like North Korea are also possibilities why these countries will never tolerate and as much as possible will try to control this technology.
I guess those countries that doesn't want to be open minded about innovation is a country that can't foresee the future. I think Bitcoin would really unlock potential when applied everywhere. They are scared of people abusing it but it can't be abused in some cases, just how they are spent I guess.
It is not that they do not want to be open minded, they are just being cautious to what bitcoin can make in their current economy. We all know that bitcoin is so volatile so the more the people who might hold it and depends on it, goes down when the price also surge and might affect the economy of that country. Still they are just being cautious not closed-minded.
Some countries don't support Bitcoin because a decentralized network prevents government control. Lack of tax regulations and lobbying of banks also make it difficult to support cryptocurrencies.
yes, it is true! my country has banned all kind of crypto. It also declared Jail for using crypto and bitcoin. The government thinks that bitcoin is not real money issued by any other government. they also think that there is no fair way to pay tax with bitcoin.
Sooner or later, the government will realize that it is impossible to ban Bitcoins. Doing so will only drive the sector underground, which will make it nearly impossible for the authorities to track and tax the users. Just see how Japan is benefiting from the legalization of crypto-currency in that country. If the authorities are intelligent enough, they will understand this.
Maybe because they don't have the means to support cryptocurrencies yet. They don't have enough hardware or even fiat money reserves to welcome cryptocurrencies in the circulation of money. Honestly, it is possible to incorporate digital currency to banks in all countries, I just think the risk is too high to take, though.
I guess those countries that doesn't want to be open minded about innovation is a country that can't foresee the future. I think Bitcoin would really unlock potential when applied everywhere. They are scared of people abusing it but it can't be abused in some cases, just how they are spent I guess.
The important thing is our country doesn't banned us from doing trade and transaction on bitcoin.
Well I'm not saying that I'm not concerned on those people who want to do bitcoin but they are forbidden to join, well it's up to them on what are their plans....
Well I'm not saying that I'm not concerned on those people who want to do bitcoin but they are forbidden to join, well it's up to them on what are their plans....
yes, it is true! my country has banned all kind of crypto. It also declared Jail for using crypto and bitcoin. The government thinks that bitcoin is not real money issued by any other government. they also think that there is no fair way to pay tax with bitcoin.
Not like in our country that is very open to all kind of trades....
Some country are also strict on their own, some country tries to protect their people,
We can't blame them when they doesn't support bitcoin, we have different kind point of view.
Some country are also strict on their own, some country tries to protect their people,
We can't blame them when they doesn't support bitcoin, we have different kind point of view.
Some other countries doesn't support bitcoin due to some of their reasons,
One is if they have a law regarding to something then diffinitly they are oblige to do do so,
One example is if a product doesn't come from their country or this product doesn't have any approval from the government and their policy that there should be no one shod be using or selling them....
Then that's another issue....
One is if they have a law regarding to something then diffinitly they are oblige to do do so,
One example is if a product doesn't come from their country or this product doesn't have any approval from the government and their policy that there should be no one shod be using or selling them....
Then that's another issue....
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
A currency that is very volatile cannot be accepted as main currency. That is the main reason why there are countries that are not accepting bitcoin. They are afraid that people might broke when volatility strikes. Yes bitcoin is profitable especially in a long term investment and profit is bigger tham regular banking but as i said, the risk is really high to be accepted in some countries.
I think that States are simply afraid of bitcoin and understand its advantages over their system. This is an attempt to defend himself.
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