Why bitcoin is not supported in some countries? - page 67.

ultraminer11

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Quote from: Javanewstar on November 24, 2017, 02:32:17 AM

Because their country's currency has become worthless, bitcoin would have to bar bitcoin in order to preserve the country's security if it would strike even more severely at home.

Bitcoin is threat for the current system. Some government's think just about making profit on peoples back, with many taxes high prices they hold their power, and that is how they rule the country. They already know how to control the supply of money in the state, with that they control everything, can you imagine what is bitcoin for them now?
Countries that think about future, and about people are open for bitcoin because bitcoin is future, others that do not support bitcoin are the countries where leader's think just about their well-being.

Infek

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Because many people invest in bitcoins, but the government expects people to invest in the local economy. And, as we see, in many countries capital outflows are observed.

B0rnedB0nd

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There are many exchanges other then you have mentioned like yobit.net is a great exchange eith hundreds of coins open to industry. Apart of trading you are able to lend bitcoins for many revenue on month-to-month foundation while there is a piece of financing bitcoins in bitcointalk.org forum. You can also perform chop if you think your self fortunate to beat the bot. The more if you want to invest then buy a rig that creates bitcoins for you. Much more over you can make your personal faucet on faucetbox if you're able to manage to have good traffic.

Javanewstar

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Because their country's currency has become worthless, bitcoin would have to bar bitcoin in order to preserve the country's security if it would strike even more severely at home.

Bit4UTeam

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The information I could find about official bans on bitcoin was on Wikipedia. Here is a list of countries where bitcoin trading/exchanges are considered to be illegal:

Bangladesh
Nepal
Kyrgyzstan
Ecuador
Bolivia

h55

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governors in some country for many reason do not agree with BTC
1- for tax
2- for irregular payments
3- for BTC risks
4- If BTC Wiped out, then peoples money wiped out.
5- some other reasons...

cryptoindustries

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btc

maybe they are not yet ready for the technology of bitcoin for example the remote areas in our planet where they still practice barter and electricity and other technology is still far from their home bitcoin is really hard to introduce to them but soon like us they can adopt to the advancement of the technology

Mjeramirez

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Streamity Decentralized cryptocurrency exchange

I think the reason is that bitcoin is design as a decentralize currency, which means the government may on of its control of monetary which will render the government powerless. Let's remember that the government right now has the control of the central bank which regulates all the private banks in a country.

Potchi

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Quote from: MadGamer on December 20, 2016, 09:29:10 AM

Their countries , their laws. It really depends on your definition for not supported too . If we speak about banning then as far as I know I don't think there is a country that actually banned bitcoin , at least nothing official and If there is then Its related to the banking system with one way or another . If its about the lack of usability in ATMs , local shops then there are plenty of countries and It takes time as some countries have more priorities .

Yes, it is about their laws and the current status of their economy especially those countries that are currently suffering from financial problems. It affects on how they are going to manage these circumstances. I also think that they are not supporting it because they think that it might worsen their financial problems or maybe it could become a threat to their plans and success in solving their financial issues.

ankit05

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I thing every country has policies of each so I thing reasonable if there is support and even no support bitcoin. My government to accept bitcoin. just imagine how many money would go in the pockets of government workers in the case. Every operation with bitcoin would be with fees.

dbutp

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Streamity Decentralized cryptocurrency exchange

Many countries do not support bitcoin because those countries have don't have conditions for the popularization of bitcoins, and some governments forbid bitcoin because bitcoins do not bring benefits for the government.

BUK2016

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Most of the countries that don't support bitcoin or crypto currency in general believe it encourages money laundry or too much capital flight from their country which is contrary to the existing laws in their country and that may be the reason for not accepting bitcoin or crypto currency in those countries.

Hach

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I heard yesterday that morocco prohibited mining and dealing with digital currencies. I think it was for money laundry and smuggling money out of kingdom.

Winefwnetos

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I believe because of the fact that some countries do not want people to earn somewhere else and some governments do not care about their people and just do whatever they want they will come up with their own coin and let people invest in that.

deviant99

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Banning bitcoin means that they saw a potential threat to the country, maybe like that. The government wants to protect on what they need to in order to have a balance in their money. Since bitcoin can't control becuase of it volatility, they can't surely handle it. And for people using it may have a threat to them

cryptokitty

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Quote from: Drakula on November 23, 2017, 06:18:02 AM

Quote from: Goler on August 17, 2017, 11:39:27 PM

a lot of factors why bitcoin is not supported in some countries of which every country has its own laws, perhaps those countries fear will affect the stability of the currency there is in the country.

Yes, there are different reasons why Bitcoin is not supported in some countries and for me one of this is the government; maybe somehow, government disallo it because they can't control it, they can't collect taxes through it and some people uses it to crimes that's why they can't support Bitcoin.

That is right, government will not allow everyone on using bitcoin because they highly believe that bitcoin my lead to corruption because they cannot control the transaction of bitcoin.

Drakula

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Quote from: long8899 on November 16, 2017, 12:42:52 AM

I think there are some countries ban digital currency transfer, maybe they afraid that it would effect their own economy or they don't want their residents get involve in it

In my opinion, I think some countries do not support Bitcoin because the officials from government are against on it. Well, I think power will always win when it comes to approval of that kind of thing before allowing to their country.

twicezeroiszero

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Borderless for People, Frictionless for Banks

Quote from: Drakula on November 23, 2017, 06:18:02 AM

Quote from: Goler on August 17, 2017, 11:39:27 PM

a lot of factors why bitcoin is not supported in some countries of which every country has its own laws, perhaps those countries fear will affect the stability of the currency there is in the country.

Yes, there are different reasons why Bitcoin is not supported in some countries and for me one of this is the government; maybe somehow, government disallo it because they can't control it, they can't collect taxes through it and some people uses it to crimes that's why they can't support Bitcoin.

It is wrong, they can tax the exchanger and miner anytime and U.S is one of countries are doing that.
As far as I know, if the government do not provide electric for Bitcoin's miner, how do the miner mining Bitcoin?
So, they can control Bitcoin anytime, as long as they want that or not! Neutral at now.

learner 7

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I think the question is not correct. What do we mean by the word "country" - the government, the president or the people who live in this country?

yasuoWasakey99

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Quote from: BADecker on October 31, 2017, 08:47:40 AM

Quote from: webdevmastery on October 31, 2017, 12:29:25 AM

Quote from: Hatuferu on October 31, 2017, 12:12:19 AM

Quote from: BlockMedx on October 30, 2017, 07:23:37 PM

Central banks do not enjoy competition for their monopoly on currency. It's where they derive most of their power.

They want to have a sole control but they cannot control bitcoin so I can say it has become a threat to them.
People will use bitcoin even if they will ban it because as long as there is internet everything is possible online for a person who are satisfied with the decentralized system.

It was a threat in the way that bitcoins can be used for buying drugs online and it was very hard for N.B.I. to trace the transaction so the only way to avoid this illegal transactions is to ban bitcoins from circulating the country.

Some people strongly believe that Government is the illegal transaction.

Cool

I agree but other countries like my country has put tax on bitcoin that means whenever i cash it out i pay fees and i pay taxes so that is not a good thing but at least this way i will have legal money and i think from 1 bitcoin you could get 5k if you pay everything.

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