Topic: Why bitcoin is not supported in some countries? - page 63. (Read 98470 times)
Bitcoin is not supported in some countries because their laws.Each country have their own policy.some people were using bitcoin for money laundering and drugs.Actually those countries not getting any tax fir such online money so they banned bitcoin.
Some countries do not support bitcoin due to the issue of taxation, the government will only survive through people’s taxes, Why would a government support something if they benefit from it or may become harmful to them. Another is with the issue of security, bitcoin as we saw, can be used as a conduit to transact money from illegal sources like sindicates, gangs and cartels.
bitcoin is not supported in other countries because they are afraid that bitcoin will disappear in the near future. and because government cant collect taxes from 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
Some countries does'nt support bitcoin, maybe because their government can't collect any taxes from the transaction that is made through by bitcoin. And they are afraid that their people might use bitcoin in some illegal activity such as money laundering, buying drugs
And because bitcoin is a decentralized currency, they are afraid that they can't control the fast-growing nature of crypto world.
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 does'nt support bitcoin, maybe because their government can't collect any taxes from the transaction that is made through by bitcoin. And they are afraid that their people might use bitcoin in some illegal activity such as money laundering, buying drugs
And because bitcoin is a decentralized currency, they are afraid that they can't control the fast-growing nature of crypto world.
There are people who fear a bit coin. Why are you afraid? That's because the vested interest is threatened.
Countries that do not accept bitcoin are countries that are not able to regulate the crypto regulation as a whole. Why? because money laundering and anonymous contradict the economy and the constitution of the banking world, if bitcoin is legalized then the government can not prevent the wider crime alias the destruction of the inside, from the small and medium sectors can appear many illegal transactions including drugs. Destruction is more severe for officials because it can launder the proceeds of corruption and do not need to bnp paribas etc.
Its a big fact of bitcoins.As you know nobody's can control the bitcoin so some people start using for scamming money laundering and drugs. Believe me there's some disadvantage of bitcoins and due to the reputation some countries start banned it. But then the world does not end here. We need to think how can we overcome the disadvantages of bitcoin and use it for good purpose only.
Yes the basic reason why some countries not believe on Bitcoin is that they are knows the advantages of Bitcoin very well but the policies of their government is that the all the control in the hands of government. Because Bitcoin is decentralize digital currency. This is contradicting with their policy that is the reason they banned Bitcoin or not believe on it. The second reason I feel that the lack of awareness about the technology.
I think sooner or later each government will need to decide on bitcoin - whether to "approve it" or make illegal - and naturally authoritarian governments tend to forbid everything they do not understand "just in case" while more democratic try to accommodate. Nevertheless there will be more and more regulation of bitcoin and cryptocurrencies in general - which is not necessarily a bad thing...
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
Surely, there are lots of reasons. But here are some major concerns with Bitcoin's legalization. I only know a few. One is, Bitcoin's volatility. Bitcoin is volatile in nature, fluctuations on its value is normal so backdrops are also expected. The other thing is that, Bitcoin in the first place is decentralized which means it is not under any form of government which I think is the main reason. 
Because every country has not legalised bitcoins so far. I know many countries where the govt has still taken no actions on bitcoins either in favor or against. But people still working on bitcoins.
today there are many countries that have not received bitcoin as a means of payment that functions the same as cash, many reasons that merika provide such bitcoin used for money laundering and many more reasons they
Why bitcoin is not supported in some countries?
Because these countries were anable to control Bitcoin and they were not interested in Bitcoin. They don't found Bitcoin profitable.
Because these countries were anable to control Bitcoin and they were not interested in Bitcoin. They don't found Bitcoin profitable.
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
In my opinion, maybe the countries that are not supporting bitcoin see it as a risky step to their government because of not all their citizens are knowledgable about bitcoin. Addition to that, some countries are still have doubts in using it due to they didn't know what's ahead in the future of bitcoin. Also because of security issues. They are not supporting bitcoin for a reason that maybe it is still unknown to them.
Maybe they are not convinced yet and didn’t believe that bitcoin will work throughout in the future, that’s why they are not supporting btc at this moment but maybe it not impossible also that from not supporting to switch in supporting bitcoin in the future if they found out how it works in the society, especially for those who wishes more of income
A country are going to be at risk if they settle for bitcoin. It's volatility can extremly crush down a rustic. Thats why they simply can't settle for a digital currency while not a stable price. Some stores would possibly settle for the currency however not the complete country.
there are some reasons why in some countries bitcoin is not supported are, there will be zero revenue for govt from this bitcoin transaction, and people will use btc cause then people will have more control on their asset and government will loose control on people's fiat money. Only for these two reasons, the govt will reject bitcoins that's it. If they get income, then no govt will stop any business.
Some of those countries are pretend bitcoin as a threat for their national currencies. Actually there are many reason why those are not supports bitcoin, china's government hates bitcoin because there are many of their citizens are use bitcoin to move their wealth out side of countries.
Bitcoin are not allowed in some country because they considered it as a threat to their economy. they fear that continous rise in the use of economy have negative implication on their banks and other financial institution. since the coin is completely decentralized. government can not tax any users. also there is fear that banks might lose investors as many of them might result in investing and trading the coin which will not favour the country however i believe these country have not evaluate the benefit rather than focusing on the disadvantages.
You have a point. Bitcoin is decentralized and the Governments can't control it. Also, it can be used in illegal activities since transactions in bitcoin is anonymous, it can be used in money-laundering and terrorists financing.
But despite of other countries who doesn't support bitcoin, Japan and Philippines were warmly recognizes bitcoin in their country. As of April 1, Japan officially recognizing bitcoin as a legal payment method. On the other hand, Philippines recently accepted bitcoin as a legal remittance method that can be used within the country to move money from one place to another.
This only proves that bitcoin continues to flourish throughout the world despite of negative feedback from other countries.
A country are going to be at risk if they settle for bitcoin. It's volatility can very crush down a rustic. That's why they solely can't settle for a digital currency while not a stable price. Some stores may settle for the currency however not the full country.
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