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Topic: Why bitcoin is not supported in some countries? - page 56. (Read 98470 times)

full member
Activity: 728
Merit: 101
That's because certain government and state banks ban bitcoin, but we do not have to worry, someday they will support bitcoin.
full member
Activity: 462
Merit: 112
Not all countries are well develop and civilize; aside from that many of their people consider cash-based system and I think that is the reason why many countries not support the bitcoin.
They are not capable enough for this opportunity as of now but I am looking forward that they will accept it soon
sr. member
Activity: 1582
Merit: 279
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It is not supported in certain countries simply due to the fact that the government cannot interfere with this However, the ban will not really be effective since usage of bitcoin entails anonymity.

yes indeed the government can not do anything to bitcoin at this time, so many countries are still hesitant to bitcoin, they think bitcoin is good or vice versa, hence the government is more anxious.
full member
Activity: 448
Merit: 102
Simple answer because of high in return for the investors with no tax and only bitcoin is the one offering this kind of big return in favour for the investors.
Governments are all the time trying to collect maximum money from public in the name of taxes which they can use in wars against innocent people. Bitcoin is simply a currency made for public and this is what governments don’t like. They don’t want people to live a life of full independence and freedom. They simply want people not to enjoy financial freedom but some states which are sincere with their people have made it legal.
newbie
Activity: 14
Merit: 0
It is not supported in certain countries simply due to the fact that the government cannot interfere with this However, the ban will not really be effective since usage of bitcoin entails anonymity.
sr. member
Activity: 979
Merit: 258
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 why there's aome countries don't supported because they'd think it is illegal and it is only used for bad doing. But others think that the bitcoin is an big obstacle for the governments. They don't think about the positive side and positive benefit of the bitcoin they all think about the negative side so that they afraid that they're countries will be part of the one of the world bad countries and because of the bitcoin is decetralize theresl's no one to contact ig the bitcoin have problem because it is untraceable
newbie
Activity: 155
Merit: 0
There may be many reasons, for example, BTC is not a legal tender, can not be centralized management, may also affect the legal status of the dominant currency. And BTC is a virtual currency, vulnerable to hacker attacks, criminals will also be used for money laundering and other criminal activities. These reasons cause some countries do not support BTC it.
copper member
Activity: 2800
Merit: 1179
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Why Bitcoin is not supported in some country? Because bitcoin and other cryptos are decentralized and the government could not control them, they could not get any revenues from them and therefore they have see them as a thing with no financial benefits for the country.
member
Activity: 330
Merit: 10
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Because they only see the negative sides of the bitcoin. They only say that the bitcoin is really bad and illegal. That is the main reason why many governments in different countries is against the bitcoin.
yes I agree with that idea they only see the negative side of bitcoin they don't even give a try bitcoin HW it works and help people in they're daily needs and it can improve also the economy.
copper member
Activity: 126
Merit: 0
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I believe one of the biggest reasons is that they want to get a tax before making legal.
newbie
Activity: 351
Merit: 0
Bitcoin is not supported by other countries because they think bitcoin is a scam and can manipulate the other currencies that they are using. Government thinks that bitcoin can be a leading currency and the other currencies such as euros and dollars will be wiped away.
hero member
Activity: 1092
Merit: 501
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 guess there are still countries who are reluctant about the whole idea of bitcoin because they fear about the outcome for implementing bitcoin in their respective countries. Some countries also sees bitcoin as a threat to their economy and for the people to no longer apply for big companies and factories because they have another means of earning money.
I agree, the states of the countries don't know what they will do with this technology and how this will affect the economy of their country, because it is easier for them to prohibit and not support than to try to introduce something new and find in this positive moments and development

We must understand that any technology that is truly revolutionary tends to bring changes and sometimes those that are in power are not happy about those possible changes but the biggest issue for them is that they do not have a choice when a new technology appears there is no way to make it disappear, so bitcoin is here to stay even if they do not like it.
member
Activity: 143
Merit: 10
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

bitcoin supported all over world, every government  have rules to  support exchange to bitcoin or not.

actually few countries only ban/unsupported bitcoin
member
Activity: 96
Merit: 13
I think governments in some countries do not support bitcoin because their governments are worried about bitcoin. Criminals exploit bitcoin to illegally. Use bitcoin for money laundering. People can use bitcoin to evade taxes. That affects the economy of their country

Not only this is the reason but even the government officials also cannot take bribe and cannot control the Bitcoin just like what they are doing with fiat currency.
full member
Activity: 442
Merit: 101
I think governments in some countries do not support bitcoin because their governments are worried about bitcoin. Criminals exploit bitcoin to illegally. Use bitcoin for money laundering. People can use bitcoin to evade taxes. That affects the economy of their country
newbie
Activity: 193
Merit: 0
I think the reason why some countries did not support bitcoin is that they are not technically okay, because bitcoin is been trade online
full member
Activity: 476
Merit: 101
Their governments are narrow-minded and they just absorb those negativities around bitcoin which is money laundering and illegal drug trade. If they only open their minds on its technology.
full member
Activity: 456
Merit: 100
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the government in my country forbids bitcoin as a means of payment. probably because the government is afraid if our currency falls.
and bitcoin transactions can not be traced, so they are afraid if bitcoin is used to commit criminal or illegal transactions.
full member
Activity: 350
Merit: 105
Because some countries are they know bitcoin is related to criminal activities. They have their own policy that the government will implement their laws to not used this bitcoin on illegal activities to their people so they not supported.
newbie
Activity: 12
Merit: 0
It’s an infrastructure and understanding problem. Even if people have heard about BTC, you need to understand how to accept it and incorporate it into their organizations and lives. Considering there’s already a ton of downside to using BTC (long wait times for confirms, high transaction fees, etc), it’s likely not going to advance until more infrastructure is built.
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