Topic: Why bitcoin is not supported in some countries? - page 51. (Read 98470 times)
Indeed, some countries do not approve bitcoin. There are several reasons for this. It is believed that it will lead to the collapse of the banking system. The state may lose its investment in the business or financial sector. The batkin is difficult to control. It can lead to a depreciation of paper money. Bitcoin has the right to exist because its cost is constantly races
Bitcoin is not supported in some countries because every country has his policies and also because bitcoin is unpaid tax or else because somebody else uses bitcoin for bad like for example with drugs and criminal activity.
I think the reason behind why bitcoin is not supported in some countries; many countries in this world are not yet well-developed through this these countries are not yet capable enough to accept this kind of innovation and opportunity. I think that is the reason why many countries still not support bitcoins.
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
Those countries who doesn't accept bitcoin in my own opinion is because:
1. They want to avoid money laundering.
2. They don't have much knowledge about it.
3. They can't see or touch it.
4. They can't understand this innovation is happening so fast that even money can be mined using a machine.
5. Most of the people running the system of governance are too close minded when it comes to innovation and change.
Because in some countries, many people use bitcoin for illegal activities such as tax evasion and bribery.
With the rising popularity of bitcoin as a virtual currency, there are concerns about regulations about the possible impact on real currency, tax implications, potential fraud, this has led to many countries issuing legal or legal guidelines for bitcoin used in their respective jurisdictions, so there are some countries that do not support bitcoin, they think bitcoin is a threat to their country.
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
This is a simple question. If they support bitcoin, then their country's inflation will become more serious, which is a problem they don't want to face. 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.
Because it's a threat from central banks coz they will experience some difficulties from their investors. because clients wants to transfer their money to bitcoin and will grow alot in 1 year. but in my opinion they didn't support bitcoin because they use it for illegal activties.
Some people uses bitcoin for illegal activities thats why other countries are aware of crypto currency.Although we might think its a way to make life better due to its good side,safeness,transparency,fast,anonimity and value but for some goverment think its a threat for the economy and will affect their fiat money,its not that fast for countries to adapt something they dont familiar with and also every country has their own rules and authorities,and they afraid that bitcoin can be a vessel for illegal activities.
There are few countries banned BTC and don't allow their citizens to use it mostly because of the effect on the local currency in exchange for an international one (BTC), Therefore will result in their currency seeing it's actual value compared to other currencies compared to BTC.
I think a country does not support the existence of bitcoin because the country itself is afraid of the existence of bitcoin which can have a bad effect on their economy, because the country is not ready to face the new thing, whereas bitcoin if it can be utilized by a country can even advance the state of the economy
There are many authorities, security agencies and regulators that continue to investigate this world of cryptocurrencies. So they still fear them. And it is not reliable for them to introduce this method of payment
Because almost any polity (and goverment as instrument) is a way to oppress and manipulate the minorityof the majority. When people become financially independent (and all crypto currency owners aspire to this), they begin to understand this fact. In addition, all bureaucracy in most countries tries to regulate or to forbid all that they do not understand.
If bitcoin will be popular all over the world we will see the real freedom, bitcoin should change the present financial system especiallytransacting online because it's more transparent and faster using bitcoin, also the crypto market is growing and that means people supported this crypto currency.
Because almost any polity (and goverment as instrument) is a way to oppress and manipulate the minorityof the majority. When people become financially independent (and all crypto currency owners aspire to this), they begin to understand this fact. In addition, all bureaucracy in most countries tries to regulate or to forbid all that they do not understand.
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
I think because they scared that criminals or bad people use bitcoin to do some illegal activity or againts in the government and they dont have a control or access in bitcoin hmm and bitcoin doesnt pay tax. In some countries do not support bitcoin because bitcoin is risky and the government may not want the risk to happen to its citizens because it can cause a person to go bankrupt and lose all the money.
Well cryptocurrencyisnt AS risky as people say it is. Sure it can go to 0$ but will it? Highly debatable. I definitely feel it wont go to that low or anything
some countries do not accept bitcoin because their government considers bitcoin will affect their currency. but i hope someday bitcoin can be accepted and supported by all countries.
Proper education is the key so that people will start using bitcoin. I think those people who are against bitcoin are the ones who want to take control. They may have hidden agenda or objective that will benefit their own business or personal needs.
Obviously who doesnt want to control their people, if you control your people then you make a lot of money from them in taxes and shit.
Each country has rules and laws, . There is a consideration that is certainly very important. there are some countries that do not use bitcoin, and some countries are using bitcoin. it is a right of every government.There are actually just a few countries where Bitcoin is actualy supported in legal way. All others are just tolerating or ignoring it or it's banned. The reason is probably because there is people still thinking that Bitcoin is something connected with illegal activities or tax evasion, that they think Bitcoin is threath to financial system or they simply just don't know what to do with it.
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