Why bitcoin is not supported in some countries? - page 52.

mornabo

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Quote from: cryptoquality on January 04, 2018, 10:26:07 AM

Quote from: spyerf on January 04, 2018, 09:36:45 AM

Quote from: mitabacut on January 03, 2018, 07:48:11 PM

Maybe Because some countries in the world are afraid of bitcoin, some countries are afraid of the loss of virtual currency because there is a kind of digital currency like Bitcoin.

That may be one of the reasons why there is a 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. In this case it is difficult, because bitcoin has good and bad consequences. and there are still many good people who also benefit from bitcoin as an investment tool. This is what causes a country that prohibits the use of bitcoin as well as some who allow it.

I think I'm not agreed with you guys. In my opinion the reason why some countries does not support bitcoin or generally any other crypto currencies is totally about taxation issues. As tax is the main food of every country and they still didn't figure out how to get tax, they are not supporting it.

besides taxes of course the government has another reason why they do not legalize bitcoin in their country, bitcoin has a decentralized and anonymous nature, it makes bitcoin uncontrollable and may be detrimental to the government itself. imagine if the government's have biggest income from tax then many people doing money laundering in bitcoin to avoid taxes, of course the government will find it difficult to track it because bitcoin anonymous and decentralized

Vanshenz

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In my opinion, a country that does not allow the use of bitcoin thinks that bitcoin can threaten the country's economy, so they prohibit the use of bitcoin.

MGmahesh

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I think it is determined by the existence of an interest in the country that may appear to be contrary to the prevailing policies, but it is influenced by the human resources factor which is considered rigid and inhibits the existing program, because it does not want the name, the service role its function is not valuable in the eyes of its people

freshm4ker

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I think it's very profitable for every government to accept bitcoin at the same level as fiat value. Just think about how much goes into the pockets of government employees in this case, because every bitcoin operation will cost everyone every tax. Cool

haster100

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I think the problem lies in the development of these countries and their legislative system. The more developed, the more restrictions.
Less developed, less awareness

adsaf4544d

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Limited supply and High demand is a natural thing for something of value. And obviously, due to the limited number, many people want to hoard Bitcoin, before the total supply is met. Because If the total supply of 21 million Bitcoin has been reached, the price of Bitcoin will rise dramatically. Probably faster than the current price increase.

Turkish88

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Bitcoin not supported because government dont like when people doing money without paying tax.
Some try ban btc, but in near future i think government himself start using blockchains.

Shimmiry

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★Bitvest.io★ Play Plinko or Invest!

I think some country are afraid of losing their deposits , Maybe the government does not trust the cryptocurrency and its technology. Yes its a risky one but it can greatly affect the economic status of ones country. Aside, it do not require tax to regulate and government will get nothing. I think in the future some will unbanned this if they are late coping with this.

jeluhtajem

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ha ha ha
is there a country that opposes bitcoin in such a way? it's so funny
what they feared to do so
in my country bitcoin is not banned, the government only gives a warning, if investing with bitcoin has a very big risk. That is all
and each country has different rules

zorchy

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In some countries, there is a ban on the exchange of crypts due to the fact that it can greatly affect GDP . Shocked

tantimutz

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It does not have to do anything with risk. The reason why - because every country has an economic system and every government wants to control this system completely. With crypto they can not at all. This loss of control is unacceptable to most governments.

BitPlace

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Quote from: ?? on ??

I think, bitcoin is not supported in some countries, because some government in particular countries are corrupt. Since bitcoin don't have any tax, they could easily ban bitcoin in their country, thats why some country don't support bitcoin. But also there are some reason why they don't support bitcoin because they know there are many crimes on using bitcoin as payment.

I disagree on you. Bitcoin will be supported if they will understand what bitcoin is all about. Government right now didn't accept bitcoin but maybe in the future they will accept it. Bitcoin can surveive because people are still using it right now. Bitcoin also is very useful and continues to help many people to gain through online.

tanjiran

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Simply put, no government can control bitcoin. Some governments seek to protect citizens and the country's economic stability as well as its country's security from the negative impact of bitcoin misuse. They still do not have the right way to handle the problem, so banning bitcoin is the only option.

hibiscus

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Some countries don't support bitcoin because they do not understand how the country can benefit and they believe that it may cause the development of the country or will affect the economy.One cause for not supporting is that Bitcoin is a decentralized digital currency and no middleman is there to control it only internet connection is needed.So some countries are trying to ban due to this scary reasons.

accm092

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Quote from: MadGamer on December 20, 2016, 09:29:10 AM

Their countries , their laws. It really depends on your definition for not supported too . If we speak about banning then as far as I know I don't think there is a country that actually banned bitcoin , at least nothing official and If there is then Its related to the banking system with one way or another . If its about the lack of usability in ATMs , local shops then there are plenty of countries and It takes time as some countries have more priorities .

I agree about your statement, i heard that some of country like Alegeria are now passing a law to ban using Bitcoin this 2018? probably because there is no bank regulating the BTC?
Hence, the number of countries which you can use bitcoin are higher than not, it only depict that Bitcoin have their use on digital world and each country.

Sum24

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Quote from: ZaynDale on January 03, 2018, 07:34:50 PM

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.

Bitcoin will be supported by the rest of countries because biotin is fast growing currency in world and as some countries accepted bitcoin the rest of countries will also accept bitcoin and the countries who accepted bitcoin they also take their time to join because may be they want to see the result of bitcoin in those countries who have accepted bitcoin it’s such a currency which can reduced unemployment and also it can help them in their economy.

vkwame30

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Some countries are hard on drung and anything illegal. Bitcoin as anonymous currency is used to facilitate such trades by some bad guys. That is the governmetn of those counties dont support it.

cryptoquality

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Quote from: spyerf on January 04, 2018, 09:36:45 AM

Quote from: mitabacut on January 03, 2018, 07:48:11 PM

Maybe Because some countries in the world are afraid of bitcoin, some countries are afraid of the loss of virtual currency because there is a kind of digital currency like Bitcoin.

That may be one of the reasons why there is a 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. In this case it is difficult, because bitcoin has good and bad consequences. and there are still many good people who also benefit from bitcoin as an investment tool. This is what causes a country that prohibits the use of bitcoin as well as some who allow it.

I think I'm not agreed with you guys. In my opinion the reason why some countries does not support bitcoin or generally any other crypto currencies is totally about taxation issues. As tax is the main food of every country and they still didn't figure out how to get tax, they are not supporting it.

spyerf

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Quote from: mitabacut on January 03, 2018, 07:48:11 PM

Maybe Because some countries in the world are afraid of bitcoin, some countries are afraid of the loss of virtual currency because there is a kind of digital currency like Bitcoin.

That may be one of the reasons why there is a 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. In this case it is difficult, because bitcoin has good and bad consequences. and there are still many good people who also benefit from bitcoin as an investment tool. This is what causes a country that prohibits the use of bitcoin as well as some who allow it.

NJB18

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Quote from: marcuslong on January 04, 2018, 03:07:59 AM

Quote from: ZaynDale on January 03, 2018, 07:34:50 PM

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.

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