Topic: Why bitcoin is not supported in some countries? - page 57. (Read 98470 times)
Bitcoin and cryptocurrencies is a new phenomenon. It represents as an alternative to traditional bank system. Not all the people can understand and evaluate blockchain technology and electronic money.
The state has the power to regulate anything in the country, especially for the very important transactions, the presence of bitcoin makes the country has no power to regulate so many countries are worried about the presence of bitcoin.
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 currencies are not accepted or unsupported in some countries because bitcoins do not yet have clear rules about their value policy and bitcoin values can not be affected by any country policy
Well as per my view btc is not supported in some countries as the government think that it is some kind of threat for the government and people are using it for illegal practice where as they don't try to understand the fact that btc will help grow the economy condition of the country.As it is normal when people of that country become rich via btc they normally tend to spend their profit by converting it to cash and the cash which is transferred to the bank account is normally taxed and the government does'nt try to understand that it can bring in income for their nation.
In most of the countries bitcoins are considered illegal
So the government has banned users to use bitcoins and accept it in other places
Originally bitcoin was used for dark web and other such transactions so it is considered illegal
So the government has banned users to use bitcoins and accept it in other places
Originally bitcoin was used for dark web and other such transactions so it is considered illegal
I think bitcoin is not supported in some countries because of the selfishness of their governments. They worry people use bitcoin to evade taxes. The government also does not benefit from it. The issue of using bitcoin for gambling and drug use or for fraudulent activity and fraud is also a concern.
I just do what I want until all those goals happen, even if the state forbids bitcoin in that country I will still do it because I'm sure my country bitcoin is always accepted for advancing the economy.
as far as I know no country is banning the use of bitcoin until now but it is not legal though, if someone is using it for illegal things maybe he is the wrong person.
as far as I know no country is banning the use of bitcoin until now but it is not legal though, if someone is using it for illegal things maybe he is the wrong person.
Still many countries don't have complete about bitcoin technology and even din't ban bitcoin in their country yet. Still they are in problem how to recognize bitcoin and how it is beneficial for them. Even they like the bitcoin technology but bitcoin is not complete depended currency.
yes there are some countries that do not support bitcoin because they have their own policies in each country and must follow the rules made by the government but not all countries that do not support bitcoin there are some countries that support bitcoin
Those governments, which ban cryptocurrency, are so corrupt, that they are afraid, situation will spiral completely out of their control. Or possibly, they just don't want their already disadvantaged people to be able to stash some money away from their control.
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 not about fairness, this is about control, you need to know your law and obey it, in my country bitcoin is not illegal and the enforcement of the laws is very lax so in case bitcoin was considered illegal I know I could get away with it if I wanted but if the application of the law is brutal and efficient in your country then the best thing you can do is to sell your bitcoin. 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 prohibition is made to prevent illegal practices that exploit digital currencies, such as money laundering or terrorism financing, as well as maintaining the country's currency sovereignty as the only official means of payment in the country
The governments of these countries are simply afraid of Bitcoin and not without reason. They may cook up whatever excuses like Bitcoin being used for criminal activities such as money laundering and terrorism financing (as if cash weren't used for that as well, and likely with even better results), but the harsh truth is that Bitcoin competes with their local currencies and may eventually outcompete them. It is like the US dollar which everybody loves but which the governments can still more or less control through foreign currency exchange operations carried out by banks (apart from cash transactions, but these are small overall).
Bitcoin allow privacy in transaction,this migth not be good for Government policy against fiat/money laundery and tax evation.
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.
one of the reasons why bitcoin is not supported in some countries is most likely because their state-owned banks feel uncomfortable with bitcoin, because bitcoin is made up of investment fields for its investors and does not save its money in banks, avoiding the occurrence of money laundering because of the bitcoin anonymous
The government think's that bitcoin is insecure for their country's economy and may be bitcoin could make the situation worst. So they might have banned bitcoin or it is anonymous and easy to launder money so this thinking might make them to ban bitcoin.
Bitcoin's anonymity is so big seal on other governments. Bitccoins high value with a anonymity is bad thing for them. You can transfer a big value of money in just a few clicks. Well, That's their thinking. We cannot judge them because they are governing us. Other governments banned bitcoin because Bitcoin will able to destroy banks that will result to crashed. Because there are lot of storing applications that you can put all your money using your digital and electronic devices. And yes, i agree to you, bitcoin have the ability that it is easy to launder money for its anonymous.
The government think's that bitcoin is insecure for their country's economy and may be bitcoin could make the situation worst. So they might have banned bitcoin or it is anonymous and easy to launder money so this thinking might make them to ban bitcoin.
First, because people in those countries do not trust bitcoin
Secondly, the government in that country has rules governing that bitcoin is not a legal means of transactions in the country
Third, the rise of cybercrime actions that exploit the existence of bitcoin
Secondly, the government in that country has rules governing that bitcoin is not a legal means of transactions in the country
Third, the rise of cybercrime actions that exploit the existence of bitcoin
Government is always an enemy of cyber crimes and they are imposing lots of laws against cyber crime offender, Bitcoin can be easily subjected people into scams/fraud. Other than that bitcoin is decentralized and no one can manage how it can be on the market we all know that government always want to secure ways on managing our currency. They dont see bitcoin as a legal tender and their fiat money is more like natural treasure to them that's why they are afraid that bitcoin can replace fiat .
First, because people in those countries do not trust bitcoin
Secondly, the government in that country has rules governing that bitcoin is not a legal means of transactions in the country
Third, the rise of cybercrime actions that exploit the existence of bitcoin
Secondly, the government in that country has rules governing that bitcoin is not a legal means of transactions in the country
Third, the rise of cybercrime actions that exploit the existence of bitcoin
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