Why bitcoin is not supported in some countries? - page 53.

marcuslong

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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.

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.

jazmuzika217

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Thats because theyre probably protecting their consumers and native businesses. One of the most fascinating attribute of bitcoin is it is non-traceable. And that also could be the reason why government tend to ban bitcoin from their country. People can buy goods using bitcoin but the government didnt catch any of those transaction to make it taxable. We all know that the all revenue of a government comes from tax, bitcoin is non-taxable also thats why they didnt earn single penny out of million of transactions around their country and I think thats disturbing for them. And last but not the least, government controls a bank. Which means if all of their constituents uses bitcoin, theres a tendency that they trusted more the bitcoin than the banks thay may results on closed banks. And the government didnt want that to happen coz we all knew most of our government people have their shares of stocks in banks.

haster100

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Each country has its own opinions and laws, for example, China, mainly because of the currency, other Asian countries because of how difficult it is to track and regulate them, as well as to distinguish people without understanding BTC and much more for advertising.

megalith07

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As to governments, the reason is this conflicts with the present model of energy in the public arena. Regardless of this I don't see numerous nations forbidding the utilization of the cash, they want to disregard and not give exposure. With respect to all in all I believe it's still early days. Albeit many individuals approach the web and many wellsprings of data despite everything they have not understood the requirement for a cash to take care of the issues that exist in fiat money.

matthewogus01

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Every country has a different monetary policy and being that bitcoin is decentralized, makes it hard for the government to control the said currency. Furthermore, regulations and authorities differ from every country which can hinder bitcoin from being a welcomed currency.

Nunoluck

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Quote from: mulia tani on January 03, 2018, 09:17:02 PM

every country must have its own rules / laws, maybe there is a country that is afraid the country's economy is declining and they think btc threatens their currency to lose

Correct, there are some countries which do not ready to adopt cryptocurrency especially bitcoin. Some of those countries are afraid about the extreme fluctuations price of bitcoin. It's fine but if there is a country which pretend bitcoin as a scam then that country is fals.

mulia tani

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every country must have its own rules / laws, maybe there is a country that is afraid the country's economy is declining and they think btc threatens their currency to lose

maynguyen

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Each government has it's own view of bitcoin. Many countries do not accept bitcoin because the government does not control the development of bitcoin. Bitcoins affect the interests of banks.

Mariela

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In my own opinion.. Some countries dont support btc.. They think that btc are threatening their currency if bitcoin getting stronger everyday there are posible bad effects to their economy.

cryptobengal

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From what i understand , Bitcoin is not legal, or not recognized in some countries , is because the bankers who control the governments are afraid of losing power
and try to scare the people from using it. typical behavior , from these scum. they know there time is up.

Thecryptocurrency09

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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 number one reason I have seen for some countries who wasn't allowed to use bitcoin is the fact that government can't control it. Its publicity cannot be manipulated by any sector. Specially in mining, where lot of bitcoin is gathered and collected. Knowing tax could not be accommodated in it. Just be thankful that you are currently allowed to use it.

akiraminai

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bitcoin can be seen as nuisance in some government aspects and some government organizations that has to do something with currencies like banks and lending companies. It's also not that stable that some are afraid to invest on it and think that maybe the price won't inflate higher and continue decreasing it's value.

Aryanto28

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Quote from: mr.bitcoinerf11 on December 20, 2016, 09:40:19 AM

my country is not supporting anything like drugs/bitches
bitcoin is accepted as well in my country so

You are very lucky if bitcoin is acceptable in your country. That way you do not have to worry about losing your bitcoin. Maybe in some other countries have banned it because of the smoothness of their transaction and economic system. and minimize the number of bitcoin-related crimes because it is undeniable that this bitcoin has tarnished its good name by unscrupulous people.

genology

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Each country has their own policies regarding their money/currency and Bitcoin is not included in that. Another reason is the safety of Bitcoin. People don't know where it came from or who handles it. The government won't rely on that type of currency.

Al Amin

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Why bitcoin is not supported in some countries, maybe for some reason like in my own country the government forbids it for fear of bitcoin being misused for the crime of terrorist funds or embezzlement. The government may also be afraid of losing the value of their fiat currency caused by bitcoin

Hopeful2017

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Greentoken-invest in ecology

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

I think because their Government doesnt know about the idea of Bitcoin. Their economist are afraid that bItcoin will overtake their manpower. If eeryone in their country will do Bitcoin, then there will be no people to do other jobs. Moreover, their government cannot impose tax over Bitcoin and it will be a great loss on their economy.

mitabacut

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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.

ZaynDale

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T H E G O L D E N I C O

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.

rasmadisulaiman

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Some issues of bitcoin misuse of criminal activity have triggered some countries still refuse bitcoin to be legalized. There are also countries that are still studying whether bitcoin can be legalized in their country or not.

MrJake

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One thing about crypto is that, it cannot be easily regulated since it is made to be self regulating which is why poeple loves it. It bypasses middlemen in a conventional financial transaction.

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