Topic: Why bitcoin is not supported in some countries? - page 55. (Read 98470 times)
Because they didn't get a tax on it that's why they ban bitcoin in their country. There is no bad in holding or having bitcoin transaction. They have nothing to do to manipulate the bitcoin price maybe that is one of the reason why they have to ban bitcoin in their Country.
Reasons why run the gamut, from fear and ignorance, to protectionism of their national currency, to building a new currency in bitcoin’s image. The list, in general, is not much above ten, but that is subject to change, as many countries have not made an official decision for or against bitcoin. Some are banned by the country’s Central Banking system, some are banned by the nation’s government, and in many countries the Central Bank and national government act as one and the same
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
Some countries are not open minded in cryptocurrency they did not know how important it is,so thats why they banned it their country.Due to its decentralized they find hard to detect it im any transactions we are doing.But they cannot ruled beacause no one can give a law by bitcoin.But there are some countries that they supported it and used it as a payment system and also in my country it was supported by central bank so no need to worry. First of all, let me clear that governments can detect or track anyone if they work hard because Bitcoin is not a complete Anonymous system if you make a lot of transaction from a single address and their address can be tracked. No governments have a rule that every money export or import into their country has to go through Some Tags especially in India. They do as much as they can to prevent it from the country I don't know why I need a thing that it is bad they know something which we do not know anyhow for me Bitcoin is not harmful and is much useful if we can use it incorrect way.
This is the idea, in monero let's say, they can't track the transactions because they don't disappear on its blockchain. That's why we need more implementation on bitcoin to protect our privacy.
Because a government in a country thinks that bitcoin can paralyze the country's economy primarily from state revenues, it is due to the decentralized bitcoin nature that no one party can control bitcoin including government in a country
That is just one of the reason why crypto currencies are not supported by some governments. Another reason is tax issues. As tax is the main dish of any government they don't really like the idea of blockchain.
Some countries do not accept it, because it is not clear how to regulate the cryptocurrency, it is not clear how to identify the payment and track terrorists, drugs. Fortunately now many countries have already taken up the challenge and soon bitcoin will be legalized but will be taxed..
If you look at the dark side of bitcoin you will find a lot of negative possibilities it will bring but a country in order to progressshould also consider the bright side, they should not be one sided and carefully evaluate if in overall it will benefit the masses.
First of all, let me clear that governments can detect or track anyone if they work hard because Bitcoin is not a complete Anonymous system if you make a lot of transaction from a single address and their address can be tracked. No governments have a rule that every money export or import into their country has to go through Some Tags especially in India. They do as much as they can to prevent it from the country I don't know why I need a thing that it is bad they know something which we do not know anyhow for me Bitcoin is not harmful and is much useful if we can use it incorrect way.
Some countries do not accept it, because it is not clear how to regulate the cryptocurrency, it is not clear how to identify the payment and track terrorists, drugs. Fortunately now many countries have already taken up the challenge and soon bitcoin will be legalized but will be taxed..
It is just because there are still countries where there is no stable internet connection, even electricity. They just don't need BTC on their stage of public evolution
That is not a reason in fact we have not heard a lot from countries that are very poor, most of the time we are hearing news from countries that are very rich, bitcoin has been accepted by japan and there are some countries that are undecided, and the reason of being undecided is that they know they cannot accept bitcoin as a currency because if they did they will be recognizing that we do not need governments to print our currency for us. 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
your question is pretty good about why there is a country that prohibits bitcoin and is it fair, it is likely the country is afraid of inflation on the country's economy or the country is afraid of a bad deviation to bitcoin users if in my opinionI think it is more of about the independence of a particular country like those which are part of the communist type of government. They are close to share their resources with other countries that are democratic. Same when it comes with fiat or currency. For instance in North Korea, aside from the fact that they prohibit their people from using internet that is not tolerated by their government, the value of USD there is very low. These countries closed their doors for government purposes.
I think, bitcoin is not supported in some countries, because some countries not supported on bitcoin,against in bitcoin, think that bitcoin is risky, thats many reasons that bitcoin not supported in some countries, and many of them of some countries is independent and rich so thats why not supported of 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.
It might be fear of using by citizens in a unlawful act such as hiring people through internet to do such unlawful. Well, it has been long time ago with that issue occurred may be some of those countries cannot moved on to those issues. Also, they may be does not want their citizen to experience loss their profits, money they have invested or even to get scammed through bitcoin they simply put safetyness of the profit of their citizen. Lastly, I guess they feel that bitcoin will replace their own currency or may be it might be get devalued, to the point that they ban cryptocurrency on their own countries.
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
your question is pretty good about why there is a country that prohibits bitcoin and is it fair, it is likely the country is afraid of inflation on the country's economy or the country is afraid of a bad deviation to bitcoin users if in my opinion 
maybe some countries that do not support bitcoin want to protect their citizens from losses caused by bitcoin because as we know bitcoin has a big risk with the price fluctuate and unpredictable, so will be at risk to lose money
Because a government in a country thinks that bitcoin can paralyze the country's economy primarily from state revenues, it is due to the decentralized bitcoin nature that no one party can control bitcoin including government in a country
For the present, some countries have not decided how they treat bitcoin and crypto-currency in general. In many states, governments do not understand the nature of the crypto currency and are afraid of it. They explain their decision on the prohibition of crypto-currency in different ways. In China, for example, they said that the crypto currency is a threat to the country's economy, because significant amounts of money can be withdrawn from the country through the crypto currency.
On December 18, bitcoin was completely banned in Kuwait. Since this happened at the last peak of the price growth of bitcoin, when it reached the rate of 20,000 dollars, it seems that this country was frightened by the uncontrollable growth of the bitcoine price and how this growth will affect the economy of the country.
On December 18, bitcoin was completely banned in Kuwait. Since this happened at the last peak of the price growth of bitcoin, when it reached the rate of 20,000 dollars, it seems that this country was frightened by the uncontrollable growth of the bitcoine price and how this growth will affect the economy of the country.
Countries would rather not simply ahead and enable a cash to equal their own as it would seek utilization. In addition BTC is something or other that must be vigorously received before individuals simply ahead and begin utilizing everything the time in a regular person condition.
It is because Bitcoin is a threat to the level of control of governments to their respective territories. With Bitcoin and its correlative features that can hardly be regulated or controlled efficiently, governments across borders tend to see it as a medium to proliferate illegal causes whilst doing away with certain governmental regulations such as proper taxing, licensing, and etc. Hence, the fastest way to do away with such is to ban Bitcoin and any forms of transaction that has to do with it.
That's because certain government and state banks ban bitcoin, but we do not have to worry, someday they will support bitcoin.
Nope we have to take this serious, now many countries state governament is planning to ban bitcoin and also if they do not ban they will plan to put a tax on bitcoin transaction. any of one rule definitely it will come in future. why means the reason is simple no income to governament. Jump to: