Topic: Why bitcoin is not supported in some countries? - page 66. (Read 98470 times)

There are many countries that thus not support bitcoin and i think the reason behind is affecting their economy and other investment will decrease their value. other reason is also that no one accept a transaction using bitcoin.

May not be some but almost all countries do not support bitcoin, this is because bitcoin is decentralized so as to contradict the centralized state economic principles and can control all the finances circulating in the country.

It does not support me think. because they are still thinking and reviewing to be able to allow bitcoin in their country. many things that are being discussed by developed countries today

Knowledge is the best thing that everyone country should develop especially about bitcoin because most of the countries in our world are being blinded of the things and information that they are getting from the internet and that is why they are not supporting the bitcoin and other co-related cryptocurrencies but i think that in the future they will accept it.

Bitcoins are not supported in some countries because their laws and government do not support the release of bitcoins. They believe that bitcoins are not good and can be a good opportunity for criminals to take advantage of gambling offenses. this is very dangerous

Why is bitcoin not supported in some countries?
As far as I know, it probably has something to do with the currency of a country
Surely the income from bitcoin is not statistically clear, and the tax money is not transparent

Well i think bitcoin is not supported by some countries because they didn't know yet what the bitcoin can do for there economy or for there conpuntry, and i think some countries didn't know that bitcoin can help many people, and help the economy by reducing unemployed person, so my opinion is lack of knowledge of some countries is the main reason why they didn't supported bitcoin.

For me some countries dont supported bitcoin because they think bitcoin is not yet know by everyone and by the whole world thats why some countries dont want bitcoin to be legal or to be supported in there country, and bitcoin is can be use to scam so thats why some countries dont supported bitcoin.

My country thinks that BTC is only used for gamble, porn, hacking and drug dealings and arm dealing. Lolz. Even some news media also has published those BS. BTC fluctuates a lot, ETH does not. Crypto is the main stream. Advance countries are adopting this block chain tech even in banking. And some BS (including mine) countries are just avoiding BTC as they will loose control over public property. I do not feel good to spread bad words against my mother land but what to do ?

Btcoins are banned in many countries. why ?
Due to limited bitcoin, security policy of bitcoin has not been approved by the government
As well as the value of bitcoin escalate too fast, unstable

Most countries that forbid bitcoin are communist countries where the country is fully in control of the economy of its people so it would be contrary to the very privacy bitcoin and even the state can not set the bitcoin so that the communist state would definitely prohibit the use of bitcoin. Bitcoin is also considered to weaken the currency of a country because of very large exchange rates and bitcoin is also not clear who is managing it so this is also a reason to ban bitcoin in some countries.

There are diverse possibilities by which governments take these measures against of the cryptos. The first is the possible threat that bitcoin represents against the personal interests of the government, the second, safeguard citizens from the possible scam that bitcoin can represent (The big speculative bubble), a third possibility could be, protect the national currency against possible depreciation that bitcoin can cause,  among other. Nevertheless, not all the reasons why the governments that impose these sanctions are the same, since not all governments use the same policies.

U can see this just in the countries that they are not with good democracy level and this kind of governments don't care about opinion of people

No, there are many methods can tax Bitcoin. I don't think the government are stupid and don't know these methods. Example exchange services and mining, these fields are depending on the government. If they don't have the support from government, how do they have electric to run mining farm or create website exchange?

I think governments who do not accept Bitcoin are already starting to lag behind.

It’s also difficult to regulate Bitcoin when, in actual fact, regulations vary from country to country. The only similarity may very well be those countries where cryptocurrency is banned or restricted. The issue of how it is classified also comes up again when looking at a global view of Bitcoin.
In an Investopedia article, a roundup of countries illustrates some of the varied regulations related to cryptocurrency. Here are some examples of the different regulations:
Australia wants to tax cryptocurrency like other commercial transactions but is also cautious after security concerns from losses in 2013.
Brazil has enacted a law about electronic currencies and payment systems, leading the way in evolving its regulations.
Canada would like to tax Bitcoin but it is currently not recognized as legal tender so as no legal recognition.
China restricts its use and does allow financial institutions to conduct any transactions using Bitcoin.
The European Union has spent time debating the issue and has found some ways to tie a legal basis for Bitcoin to its existing laws, but the European Banking Authority is still against it until it becomes regulated.
Finland has created specific instructions on how it can be used. It also has made any gains from these transactions subject to capital gains tax.
India has shut down the country’s largest Bitcoin trading platform and currently has no regulatory framework for cryptocurrency.
Russia restricts the use of Bitcoin and is concerned over its potential for use in money laundering or terrorist activities.

How its gona be harmful for chinas economy?

 I am Chinese, in my country bitcoin is not supported due to it has high risk for the investors, since the bitcoin price has big fluctuation. Chinese government think the bitcoin will be harmful for the economy, also for investors. Because they don't know it very much, so they will be very careful to this. In my mind, I think they will finally open the market to bitcoin and other altcoins.

Money laundering is one factor but not the most significant one to avoid bitcoin in a country. I think they fear of missing some tax from their citizens and that's why they ban bitcoin. This way, they think people can't use it anymore, yet they're wrong.

Bangladesh not using the bitcoin.we do not know actual reason but,may be for taxes,afraid about bitcoin payment system.lack of bitcoin knowledge.bitcoin is approved by more countries.